Posted on: 12 August 2021
Getting the best price for your work
Being a freelancer, you enjoy the benefits of being able to set your own working hours, run your own business and set your own prices. However, you have to find a fine balance between getting the best price for your services and staying competitive enough to stand out from the competition.
In this guide, we will show you how to negotiate to make sure you are getting the income you deserve for your services.
How to get the best price for your services
Here are some of the ways you can get the best fee for your services:
Know your value
There is a whole host of different services that freelancers can offer, each with different skillsets, training requirements, and of course, value to the customer.
There is never a set fee for how much you or your competitors will charge for a service, but there will be a rough figure that most people offering your service will charge.
Do some market research to ascertain a rough figure that most people will charge for the kind of service you offer. This will then give you a good place to start with your clients.
Keep your portfolio up to date
Being able to show off your high-quality work is one of the best ways that freelance workers can get the best price for your services.
Keep copies of any work that you have done for previous clients so potential new clients can see the kind of work that you produce. This can even give you a chance to check with your client what kind of work they want to do. You might want to show off your work on your website and social media channels as well and if this can include testimonials from clients then so much the better.
If you can demonstrate high quality work in your portfolio you can justify charging more than your competition for your services
Resist the urge to drop your price
Negotiating with your client can be tricky, and you may be tempted to drop your price to make sure they choose you to work with, but this is something you should resist.
If you know you are offering a competitive price or you have a strong portfolio or a strong client base, the ball is in your court in a negotiation, and you can justify the price that you are asking from your client.
By dropping your price too easily you may set a dangerous precedent for a future relationship with a client, and even any contacts they refer to you.
Learn some negotiating skills
Going into a negotiation without knowing how to properly negotiate may put you at a disadvantage. You can, however, learn negotiation skills online, with a business coach or through a local education provider, such as an adult learning centre or college.
Here are some key skills you will need to be able to have a productive negotiation:
- Communication – Expressing yourself is a key skill when it comes to negotiating, and a good communicator will be able to adapt to the person they are speaking to. Listening is just as important, however, to ensure you there are no misunderstandings that could jeopardise your relationship.
- Patience – Negotiations with clients will take time to complete. You will usually need to go through a few renegotiating processes and listen to counteroffers. You will need to be patient to be able to make the right decisions in a negotiation.
- Decision making – Patience doesn’t just help with your decision making, it is something that you can learn through experience in having to make decisions quickly. Here are some tips on how you can learn to make decisions better.
- Adaptability – A negotiation should always end in an agreement that is mutually beneficial for both parties, so this might mean you have to be adaptable in your offer to ensure your client gets what they need as well as you. Your client may change their needs at any point in the negotiations, so being adaptable means you can be ready to meet your clients’ needs at a moments notice.
Freelancer insurance with Premierline
Finding the perfect business insurance cover that protects your business can be difficult if you don’t know what you need. Premierline is a business insurance broker who will assess your business needs to find insurance covers that can give you the protection that you need.
Get in touch to speak to one of our insurance professionals who will work with some of the UK’s most well-known insurance providers to compare insurance quotes.
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